Ukrainian Federal Credit Union names Administrative Council

ROCHESTER, N.Y. - At a recent board meeting of the Ukrainian Federal Credit Union headquartered in Rochester, N.Y., the board of directors appointed an Administrative Council to facilitate the governance of the credit union. Named to the Administrative Council were Myron Babiuk, president and chairman of the board, Oleh G. Pawluk, first vice-president, and Lesia Telega, second vice-president.

The need for an Administrative Council arose due to the rapid growth and geographic expansion of the Ukrainian Federal Credit Union. It was deemed essential that an Administrative Council be formed to handle special situations where it would be impractical to call, on a moment's notice, a meeting of the entire board of directors consisting of 11 members, two of whom reside in the Syracuse, N.Y., area.

Founded in 1953 with eight members and $345 in assets, the Rochester Ukrainian Federal Credit Union, located at 824 East Ridge Road in Irondequoit, N.Y. (a suburb of Rochester), celebrated its 50th anniversary in 2003.

At the start of 2004 the Rochester Ukrainian Federal Credit Union merged with the Syracuse Self Reliance Ukrainian Federal Credit Union and changed its name to the Ukrainian Federal Credit Union to better reflect its new geographic presence from coast to coast.

Today the Ukrainian Federal Credit Union has over $105 million in assets, nearly 13,000 members, and offices in Rochester, Syracuse and Albany, N.Y., as well as in Sacramento, Calif. And, the credit union continues to grow at the rate of over 100 members each month.

Copyright © The Ukrainian Weekly, February 27, 2005, No. 9, Vol. LXXIII

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